Our Approach

Purpose, Values and Promises

Purpose

Sherritt’s purpose is to be a low-cost nickel producer that creates sustainable prosperity for employees, investors and communities.

Values

The values that underpin our everyday decision-making at both the corporate and operational levels include:

• Integrity
• Agility
• Safety and sustainability
• Continuous learning and innovation
• Shared prosperity

Promises

We are committed to avoiding environmental impacts wherever we can and minimizing, managing and remediating any remaining impacts.

We are committed to providing a safe and rewarding workplace for our employees, operating ethically, and engaging stakeholders and benefitting communities wherever we operate.

We are committed to a long-term target of achieving net carbon neutrality by 2050 and have developed a climate strategy to achieve that target.

Sustainability Framework

Sherritt’s Sustainability Framework provides a focused and practical approach to addressing material sustainability issues, risks and opportunities and to manage performance. The framework is underpinned by four key pillars:

1. Providing a Safe and Rewarding Workplace
2. Operating Ethically
3. Demonstrating Environmental Responsibility
4. Engaging Stakeholders and Benefitting Communities

Within each of these pillars, Sherritt has made specific commitments, identified key organizational values and set corresponding targets to guide our decision-making. Implementation of the Sustainability Framework is supported by an integrated management system that sets company-wide standards for planning, implementation, measurement, reporting and assurance of sustainability efforts.

Sustainability Goals

Sherritt’s sustainability goals are focused on:

• Aligning the enterprise by focusing on those sustainability priorities shared across Sherritt’s business;
• Addressing existing and emerging industry-wide issues and societal concerns;
• Clearly linking Our Purpose and Our Promises, strategic priorities and the Sustainability Framework;
• Driving improved performance across the business;
• Demonstrating our commitment to sustainability excellence; and
• Aligning with the United Nations’ Sustainable Development Goals (SDGs).

Our sustainability goals are as follows:

1. Achieve Level A requirements in Towards Sustainable Mining (TSM) protocols across all operations.
2. Strengthen our safety culture, behaviour and performance.
3. Improve environmental management.
4. Create community benefit footprints that support local priorities and the SDGs.
5. Improve diversity at all levels throughout the company.
6. Be recognized as a “preferred supplier” of responsibly produced products.

For information on Sherritt’s 2022 performance against our goals, please refer to our 2022 Sustainability Report.

Memberships and Industry Guidance Frameworks

Sherritt takes an enterprise-wide approach to managing sustainability which includes an integrated system with a series of sustainability policies and standards. Our Environment, Health, Safety and Sustainability Policy articulates our overarching commitments and expectations for our employees, contractors and suppliers. Given the differences between the operating environments in Canada and Cuba, each of our divisions has some flexibility in the way they implement these standards at their operating sites. Site-specific requirements in the standards reflect our experience, our risk profile and industry best practice.

Sherritt is an active member of the Mining Association of Canada (MAC) and we are implementing the requirements of MAC’s Towards Sustainable Mining TSM protocols. The TSM protocols are a globally recognized sustainability program that supports mining companies in identifying and mitigating key environmental and social risks. These protocols inform several of our policies, operating procedures and sustainability priorities. In addition, Sherritt is a member of the Voluntary Principles on Security and Human Rights. These best practice principles underpin our Human Rights Policy and our approach to security at each of the sites. Sherritt is also a member of the Nickel Institute and Cobalt Institute to align with recognized best practice standards and frameworks. Lastly, Sherritt is an active member, and a member of the Steering Committee, of the Devonshire Initiative, which is a multi-stakeholder forum focused on improving sustainable development outcomes in the mining industry.

Sherritt also follows and reports on implementation of best practice recommendations from several organization and institutions that provide guidance for managing environmental and social performance.